10,689 square feet waterfront mansion sells for record $48.5 million in Miami

Waterfront mansion sells for $48.5 million on San Marco Island, establishing a new price benchmark for the Venetian Islands near Miami Beach. Specifically, the newly completed spec home spans 10,689 square feet, making it the largest residence on the island. Furthermore, the luxury property features seven bedrooms, glass curtain walls, and extensive waterfront footage.

Luxury property features custom engineering and high-end amenities

The geometric residence sits on a north-facing lot along the Intracoastal Waterway with panoramic views of the Miami skyline. Additionally, the estate includes a 14-foot seawall built to withstand severe weather, alongside a deep-water dock and boat lift.

Furthermore, outdoor amenities feature a 70-foot swimming pool, a summer kitchen, and a subterranean 10-car garage. Meanwhile, interior design and furnishings were executed by Varabyeu Partners, Javier Robles Studio, and Artefacto.

Development background and recent luxury market performance

The sellers, who own Maven Construction Corp., purchased the site in 2021 for $5.9 million and developed the residence named Forte. Although the property initially hit the market in December for $60 million, it eventually went into contract with an asking price of $47.5 million.

Consequently, the final transaction surpasses the previous Venetian Islands record set by a $46 million sale on San Marino Island in 2025. Therefore, as this waterfront mansion sells for $48.5 million, Miami’s ultra-luxury real estate sector continues commanding record-breaking figures.